Friday, January 27, 2017
GDP … Durable Goods Orders … Michigan Sentiment … Stock Market Analysis
The Long term indicators remain HOLD.
“The U.S. economy’s expansion slowed in the fourth quarter, and annual growth failed to reach 3% for an 11th straight year, reflecting the huge hurdles the Trump administration faces in trying to speed up a 7½-year-old expansion. Gross domestic product, the official score card for the economy, expanded at a 1.9% annual clip from October to December…” Story at…
DURABLE GOODS ORDERS (Fox Business)
“Demand for long-lasting manufactured goods declined in December, a reflection of a large drop in defense-related orders and only modest demand for other products.
Orders for durable goods--products designed to last longer than three years, such as machinery or minivans -- fell 0.4% from a month earlier…” Story at…
MICHIGAN SENTIMENT (RTT News)
“Consumer sentiment in the U.S. unexpectedly improved to its best level in thirteen years in the month of January, according to a report released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for January was upwardly revised to 98.5…” Story at…
It’s a busy day today so I’ll post detailed analysis later this weekend. As of 3:15 PM indicators improved a little Friday and Market Internals were positive on the markets. (If the S&P 500 falls late in the day, Market Internals would probably be neutral.)
The low VIX remains a concern as do Bollinger Bands that are suggesting a reversal to the downside.